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Shiba Inu Burn Rate Plummets With Only 22 Million SHIB Burned in Week

Sun, 04/30/2023 - 09:25
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Tomiwabold Olajide
Shiba Inu (SHIB) burning slows down significantly
Shiba Inu Burn Rate Plummets With Only 22 Million SHIB Burned in Week
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According to the Shibburn Twitter handle, only 22 million SHIB were burned in the week that just concluded. Per Shibburn, a total of 22,184,222 SHIB tokens were burned in 14 transactions.

The amount burned in the last 24 hours equaled 1,562,938 SHIB tokens burned in two transactions. What is most obvious is the reduction in the number of transactions carrying SHIB to be burned.

The weekly amount burned is significantly less than that burned the week before. In the last two weeks, a total of 70,335,285 SHIB tokens were burned in 23 transactions. The Shiba Inu burning factor seems to be diving in the very short term.

The reason might be due to the Shiba Inu community focusing on other positive fundamental boosts for the ecosystem, such as Shibarium.

Shibarium beta "Puppynet" continues to see greater utility, as evidenced by the number of interacting wallets and transaction count. The total number of wallets per Puppyscan data is 14,047,357, while total transactions are now at 4,632,926.

Shiba Inu Community Showcases Strength at Consensus 2023

Meanwhile, the just-concluded week turned out to be a remarkable one for Shiba Inu ecosystem tokens, most notably BONE, which saw six exchange listings in the week, including major exchanges OKX and Huobi Global.

The Shiba Inu ecosystem also saw more visibility and development. Marcie Jastrow, Shiba Inu's advisor, excitedly tweeted about Shiba Inu's presence at the Consensus 2023 conference.

Shiba Inu Team Working on Customized Cold SHIB Wallet: Details

The community also reacted enthusiastically to news that the SHIB team was developing a cold wallet for Shiba Inu and intending to partner with two of the biggest names in the cryptocurrency business.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.